Bloomberg News

Persian Gulf Stocks: Arabtec and Tamweel in Dubai Were Active

June 18, 2012

Dubai’s benchmark DFM General Index (DFMGI) climbed 0.7 percent, the most since June 11, to 1,473.64 at the close in the emirate. Qatar’s QE Index (DSM) rose 0.3 percent, snapping a four-day decline.

The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.

Arabtec Holding (ARTC) PJSC gained 1.1 percent, the biggest advance since June 5, to 2.85 dirhams. The largest builder in the United Arab Emirates by market value may be involved in property projects in China, the company’s shareholder Aabar Investments PJSC said.

Tamweel PJSC (TAMWEEL) increased the most in a week, rising 0.9 percent to 1.18 dirhams. The Dubai-based mortgage lender hired three banks to set up investor meetings for the possible sale of an asset-backed dollar-denominated Islamic bond, three investors familiar with the plans said.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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